rymer? >> good morning, mr. chairman, ranking member cockburn, senator kaufman. thank you for the opportunity to appear here today and present the results of the federal interest. ever deposit insurance office of inspector general work relating to washington mutual bank. wamu represents the largest bank failure today. at the time of the to wamu operate over 2300 branches in over 15 states and assets of $307 billion. because of wamu's size, the circumstances leading up to the failure, and the nondeposit insurance fund losses, such as shareholder value, we initiated a review of wamu to indict what the actions of the office of thrift supervision and the fdic. we very much appreciate the cooperation we received from the ots and the fdic and conducting our work, and we appreciate the contributions by my colleagues at the department of treasury, oig. as mr. thorson did, i would like to recognize a few mems of my staff to participate in this review. they are peggy wolf, and lewis, andrea him and ar

rymer? >> people in the leadership decisions to the to positions have to be able to make the tough cross. it may show profitability but to explain and enforce the management that risky profitability will have a cost. it either as a cost and control process as we have to an institution would have to invest in now or it's going to have a cost ultimately to the bank's profitability and eventually to the insurance fund is that is the tough decision i think that has to be made or enforced constantly. >> i just think i've been around this place for a long time not as a senator but a staff person and we can only write the law so much but it's truly scary when you read this report and really in the report where it seems to be clear the problem here was we had good federal employees examiners saying there is a problem here and a management not doing it and i don't see it in the report and i think it is the key as we move forward. we've got good people out there doing the jobs and the career employees